If you are driving a semi-truck, you should consider signing up for local big rig insurance. Considering the risks that you face on the road, We have to insure that our customers are always protected in case things go wrong.
An 18-wheeler truck isn't exactly the most maneuverable vehicle out there, especially if you are loaded up with cargo and have to traverse the highways. It doesn't matter if you are a very safe driver our agency insure you that no one is invulnerable to accidents, even if you exercise all caution.
When this happens, having big rig insurance will definitely make a difference and ensures that your rights are reserved.
Big rig truckers insurance is a little different from traditional car insurance. It's designed for semi-trucks instead of personal vehicles. Commercial truck insurance is essential for businesses that transport goods.
There are many types of insurance for commercial trucks. This motor carrier's insurance will insure you from having to pay huge fees out of pocket after accidents or other unwanted outcomes. Depending on your needs, you can have several types of insurance to cover different aspects of your business.
In this article, we'll cover the basics of semi-truck insurance.
What is Big Rig Insurance?
Big rig truck insurance is an insurance policy that caters to commercial trucking companies and drivers. We cater to large semi-trucks rather than pickup trucks, box trucks, or dump trucks. Insurance companies offer many policy options to fit different business needs. We'll get into some of the specific options later in the article.
Some forms of insurance are legally required, like general liability insurance, which ensures that if your commercial truck inflicts bodily damage, the insurance company will cover medical expenses and will insure your car's property damage costs.
If you lease your truck, you'll need to refer to the business owners' policy to find out their requirements. Some of them require specific policies, like non-trucking liability insurance.
Being properly insured will set your business on the right path to success. Having continuous insurance coverage will keep your company safe from sudden, unexpected costs.
How Much Does Big Rig Insurance Cost?
Trucking insurance varies a lot between different insurance companies, and it also depends on whether or not you own your truck. A commercial truck driver who leases a vehicle from a carrier can pay as little as $3,000 a year, while owner-operators who own their trucks can pay up to $12,000.
Insurance rates also vary according to the amount and type of coverage you want. If you need specialized insurance, you may end up paying more. Additional coverage can cover things like driving your truck during personal time.
Factors that Affect the Cost of Big Rig Truck Insurance
Most insurance companies look into your driving history and other things about you to determine what kind of risks you'll encounter, and that affects your insurance rates.
They'll also look at:
- The type of cargo you are carrying
- The routes you drive and how long or dangerous they are
- Your age and experience as a driver
- How long ago did you receive your commercial driver's license
- How old and well-maintained your equipment is
- Your personal financial history
Many insurance companies offer multi-car discounts when you have multiple vehicles insured. Commercial truck insurance cost is influenced by many factors, so it's different for everyone.
What Coverage Will You Need to Insure Big Rig?
It's essential to get familiar with the types of big-rig insurance or commercial insurance for trucks in order for you to get the right one for your needs. Here are the most common ones:
- Auto Liability - if the accident is your fault, this covers your legal obligation to the driver of the other vehicle. This kind of insurance commercial truck or big rig insurance covered all the legal expenses in case they decide to sue.
Under this, you have coverage for bodily injury liability, which will pay for the other driver's hospital bills and wages that he may have lost because of the incident. It's basically a payment for the pain and suffering you have caused another person.
Owner-operators also have property damage liability, which covers the repairs of the other car, or the replacement if there's a need for one. If other properties were damaged by your truck or motor carrier during the accident, this liability covers it as well.
- Cargo Insurance - this commercial truck insurance provides protection for the cargo on your truck in case things like theft, fire, and collision happen. This truck insurance or big rig insurance also covers the costs of clearing the road of debris, which is definitely important because the costs for this are usually high.
- Physical damage insurance - as an owner-operator, if your vehicle or motor carrier is damaged because of an occupational accident, this coverage will help get your vehicle back on the road as soon as possible. Keep in mind that commercial auto liability insurance will not cover this part, so it's important to have physical damage insurance as well.
Under this type of big rig insurance, owner-operators also get collision coverage, which helps repair or replace your damaged truck. You get comprehensive coverage, which covers the costs incurred for loss or damage that wasn't caused by collisions or accidents.
- General liability - this big rig or truck insurance commercial protects an owner-operator in case somebody sues him for bodily injury or property damage that resulted from the services of its commercial auto business which are not related to driving.
An example of this general liability or commercial truck insurance is when somebody trips or falls on your property and that person decides to sue.
- Pollution and Hazmat - this is a great added benefit for owner-operators in case you need to clear up the environment after an occupational accident. The expenses for this one can get astronomical, so this is why you must seriously consider signing up for it.
Stay Confident in Your Trucking Business: Get the Right Insurance You Need
General liability coverage and primary liability are essential both from a business perspective and by federal law. It ensures that any vehicle involved in an accident can take responsibility for any personal injury, medical bills or property damage repairs. However, other insurance options can provide coverage outside the limits of a standard policy.
Non-trucking liability coverage covers bodily injury and physical damage that occurs outside of work duties. That includes trips to and from work in your truck.
Truck drivers who spend a lot of time driving without a tractor trailer attached should also spring for bobtail insurance, which covers all travel that involves a truck without a trailer attached, both on and off the clock.
Small business owners can benefit from extra coverage because it protects them from large out-of-pocket costs.
If you hit a pole or break a shop window, for example, your primary insurance can handle the repair costs. If goods on your truck are damaged by a fire or lost through no fault of your own, motor truck cargo coverage can reimburse your client.
These examples are just a few situations that can arise in this line of work. The trucking industry is full of risks, and it's up to truck drivers to protect themselves and their businesses. When choosing your coverage limits, you can weigh your expenses against the insurance costs you'll have to pay. If you balance the costs well, you can save money over time.
How Do You Get Quotes for Big Rig and Motor Truck Cargo Insurance?
Now that you have acquainted yourself with the basics of big rig insurance, it's now on to the nitty-gritty—getting an insurance quote for your policy. At this stage, dealing with only the best truck insurance experts will make a huge difference.
Here's how it works:
- Contact an insurance expert - after you have done your research and chosen potential insurance teams or an insurance agency for your policy, you need to get in touch with them as soon as possible. Fortunately, this is very easy since you can do so by phone, email, chat, or filling out an online quote form. A commercial truck insurance agent will get in touch with you real quick after you get in touch.
- Give necessary information - the agent will have to ask some essential questions to get the information needed for your big rig insurance quote.
- Compare quotes - after you've done the bit with several insurance providers, it's time to compare the quotes you got in order to find out which is the perfect fit for you.
It's in Your Best Interest to Get Big Rig Insurance
So make sure that you go through each quote you have to get the tailored rig or truck insurance plan with all the right coverage. Let SoCal Truck Insurance help you choose the right insurance plan for you. We offer quality commercial truck insurance that helps your trucking business operate in confidence.
Get a Free Commercial Truck Insurance Quote Today
As you shop around for commercial trucking insurance, you may want to consult with multiple companies and get free quotes from them.
When you compare commercial truck insurance rates, you can find the lowest one and go with the commercial truck insurance company that meets your needs at a low price.
This strategy will help you find the cheapest insurance rate in California and our team at SoCal Truck Insurance can help!
SoCal Truck Insurance has been protecting people, their possessions, and their businesses for 20 years. Since then we have insured hundreds of thousands with hundreds of plan rates and specials.
We stand out from other insurance companies thanks to the unique commercial auto insurance packages we put together for our clients. We will insure your company against disastrous expenses and provide the lowest insurance costs possible.
For a free quote for big rig insurance from a company that specializes in working with commercial trucks, send us an email at [email protected] or contact us at 562-372-2433 at SoCal Truck Insurance today!
How much does big rig insurance payout be?
Typical Owner Operator Big Rig Insurance Rates
The cost of big rig insurance varies by trucker and is determined by factors such as location and driving experience. Determine which coverages you require and then add their average rates together to calculate your big rig insurance rates.
Does big rig insurance cover towing?
Towing is regarded as a high-risk industry due to the possibility of personal injury and property damage. Towing insurance is needed should you want towing coverage on your commercial truck insurance. Towing Insurance intended to protect businesses that offer professional towing services by providing various types of liability coverage, such as bodily injury liability and property damage liability.
Roadside service providers, full-service stations, auto club contractors, auto mechanical repair, auto body shops, audio salvage haulers, and rotational towing businesses are examples of businesses that may require towing insurance.